CNBC's Jim Cramer said Wednesday that Federal Reserve Chairman Jerome Powell just "blinked" on interest rates.
"Powell sees the global slowdown and knows that it could hurt us," Cramer said in a tweet. "Powell is concerned and knows when he does one he has to wait — very big change in view."
Powell sees the global slowdown and knows that it could hurt us. Powell is concerned and knows when he does one he has to wait-- very big change in view.
Despite what you may hear--Powell blinked.. @ScottWapnerCNBC he took himself off the table as a reason for a longer bear market
Stocks ripped higher Wednesday, shortly after Powell said rates are close to neutral, a sharp turn from the comments he made on Oct. 3 when he said rates were a long way from neutral.
Cramer has repeatedly blamed Powell for spooking the markets with those October remarks, saying central bankers need to recognize the economy is slowing and they can't move rates to a preconceived notion of neutral.
"So glad [the] Fed did the work, made the calls and listened to... uh, well, me," Cramer said in a tweet.
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